Hello Sir,
I am working as a contract employee with an IT firm (direct with the company). My monthly salary before TDS is Rs. 40,000. As per my knowledge, Rs. 4,000 every month would be deducted as TDS, which would amount to Rs. 48,000 per annum.
My question is, can I ask for the refund of the above Rs. 48,000 while filing the IT returns? If yes, how much would the refund be? How is the ITR filed for a contract employee? Can we show our savings for PPF, LIC, and ask for the refund?
Thank you.
Vidya
From India, Bengaluru
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I am working as a contract employee with an IT firm (direct with the company). My monthly salary before TDS is Rs. 40,000. As per my knowledge, Rs. 4,000 every month would be deducted as TDS, which would amount to Rs. 48,000 per annum.
My question is, can I ask for the refund of the above Rs. 48,000 while filing the IT returns? If yes, how much would the refund be? How is the ITR filed for a contract employee? Can we show our savings for PPF, LIC, and ask for the refund?
Thank you.
Vidya
From India, Bengaluru
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Hi Vidya,
First, I want to know more details about your income and savings for which financial year. You can claim deductions for PPF, LIC, and Housing Loan principal/interest if applicable. If you provide full details, I can assist you in filing your IT return. We need to calculate the tax before I can determine the refund amount. Please email me at renjithalp@gmail.com.
Regards, REJI
From India, Kottayam
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1First, I want to know more details about your income and savings for which financial year. You can claim deductions for PPF, LIC, and Housing Loan principal/interest if applicable. If you provide full details, I can assist you in filing your IT return. We need to calculate the tax before I can determine the refund amount. Please email me at renjithalp@gmail.com.
Regards, REJI
From India, Kottayam
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P.Tax Return F-III.xls
Contract employee & Principal employer 2017.pdf